Reliance Industries has initiated the process to voluntarily strike off its UK-based step-down subsidiary, Hamleys (Franchising) Ltd. The company said a notice had been published in the UK’s official Gazette stating that the subsidiary could be removed from the company register and dissolved no earlier than two months from October 27, 2026, unless an objection is raised.
The proposed closure concerns the franchising entity. Reliance has not announced that the Hamleys brand or its retail stores in India are being discontinued.
Subsidiary Reported ₹56.08 Crore Turnover
Hamleys (Franchising) Ltd reported turnover of ₹56.08 crore in calendar year 2025. Its contribution to Reliance Industries’ consolidated turnover for the financial year ended March 2026 was 0.0048 per cent. The subsidiary had nil net worth as of December 31, 2025.
Reliance has not disclosed the reason for the voluntary strike-off application or explained what the move means for the entity’s existing activities.
Reliance Acquired Hamleys in 2019
Reliance Brands, a subsidiary of Reliance Industries, acquired British toy retailer Hamleys in 2019 for £67.96 million, or around ₹620 crore, in an all-cash transaction. The deal gave Reliance full ownership of Hamleys Global Holdings.
Founded in London in 1760, Hamleys is one of the world’s oldest toy retailers and is known for its flagship store on Regent Street. Before the acquisition, Reliance Retail had operated Hamleys stores in India under a master franchise arrangement that began in 2008.
Strike-Off Process Still Underway
The UK notice gives interested parties an opportunity to raise objections before the company is dissolved. The process is therefore not yet complete.
The filing relates specifically to Hamleys (Franchising) Ltd. It does not provide details about changes to the wider Hamleys business, its Indian stores or its franchise arrangements.
What the Move Means
The proposed strike-off marks a change for one of Reliance’s UK subsidiaries, but the company has not linked it to any broader restructuring or retail strategy. Until Reliance provides further information, the status of the franchising entity should be distinguished from the continued operation of the Hamleys brand and stores.
Image Source